Editorial
The Gist
- Efficiency boost. Generative AI in business streamlines content creation, enabling faster and more personalized outputs.
- Strategic transformation. AI aids marketing strategies by analyzing data, targeting audiences and optimizing message delivery.
- Risk mitigation. Generative AI helps enhance compliance and fraud prevention by detecting suspicious activities and minimizing risks.
That’s great, but what are we doing about AI?” your CEO questions, eyes glaring, eyebrows raised into two question marks.
Put on the spot, you bluster. “We’re using it. I mean, we’re… uh — we’re exploring it.”
Does this scenario sound familiar? You’re not alone.
Generative AI in business — made mainstream by user-friendly tools like ChatGPT — is EVERYWHERE right now.
Everyone is arguing about AI on LinkedIn, the trades and even Squawk Box. Everyone is building AI capabilities into their tools and software. Everyone is revamping their team workflows to maximize efficiency with AI.
AI is going to take our jobs.
AI is making you obsolete.
Learn AI or perish.
Whoa — too far?
Coming up for air here, AI is the concept du jour for 2023. Frankly, it’s driving me a little crazy. Why?
“AI” is now a catchphrase for all-things analytics, but many things rebranded as AI have been around for decades! Sure, some disruptive capabilities are truly new and revolutionary, but others just aren’t the shiny new things the hype would have you believe.
AI’s promise mirrors all the technology advancements before it: faster, cheaper and more accurate.
Inevitably, the risks are the same, too — spend money faster and less accurately than ever before; bet on the wrong technology and miss the mark with your customers; don’t forget about the robot uprising.
What's Your Artificial Intelligence Flavor?
All jokes aside, generative AI in business has some really cool and effective use cases. But, business leaders are not doing themselves any favors by panicking to jump on this bandwagon, driven by fear of being left behind.
Their biggest issue? They don’t even know what flavor of AI they need.
First, reassurance. Your organization is not behind on AI — no more than anyone else, at least.
Every business’s priorities are different, and AI is ever-evolving. Your organization must determine how best to leverage AI and the use cases, or flavors, that offer the most value fastest.
To prepare you for the knock-knock-knock of your CEO, we’re covering three reliable use cases for adding AI into your business to gain immediate value and efficiency.
Quick Win Use Cases for Generative AI in Business
Quick recap — generative artificial intelligence is a subset of AI designed to produce outputs based on given inputs or prompts. It uses natural language processing algorithms, allowing AI models to produce text that mirrors human communication in response to certain cues.
Here are three ways your business can begin to gain value from AI:
Faster Content Creation
Content creation — writing first drafts of blog posts, content outlines, social posts, reports, transcripts and more — is the primary way nontechnical users get started with generative AI.
Generative AI can quickly build outlines and first drafts that sound realistic and human, incorporating the details or requirements outlined in the prompt.
It’s also great at repurposing content, whether you’re turning a long-form article into multiple social posts or personalizing the content based on personas.
You can play around with length, tone and more — requesting the AI rewrite the response to be more empathetic or friendly, format it to dictated specifications (like adding bullet points), shorten the response to be more concise, or incorporate SEO keywords.
Content pulled from generative AI should always be considered your first draft. You must make sure the content is accurate and not laced with realistic-sounding falsehoods. You also need to make sure it’s written in your tone, threaded with human emotion, following your brand’s editorial guidelines, and most importantly, offering a unique POV or helpful angle.
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All good content needs to add to existing conversations — offering a fresh perspective, explaining trends or talking through best practices. To date, Google says they’re not penalizing AI content, but absolutely penalizing content that doesn’t add value, expertise or an original POV.
Test, define, refine and iterate — never accept the first draft.
Related Article: Using Generative AI to Create Branded Visual Content
Marketing Distribution and Relevance
Content’s created — now what?
Consumers are continually overwhelmed with promotional content across both digital and physical channels. By strategically using customer data to engage them at the most opportune moments and locations, a business can significantly boost its ability to sway its target audience.
With its ability to parse huge amounts of data and identify patterns and trends, AI can help you build a data-driven, relevant marketing strategy.
Generative AI can help savvy marketers answer:
- What preferences and pain points are common for your target audience?
- How should the message be tailored based on different personas or pain points?
- What distribution channel mix will be most successful?
- What is the best frequency of messages?
- What’s the optimal bid for an ad placement?
- How can you make the messaging or design more personal?
- How frequently is your brand mentioned across social platforms?
- How can you automate processes to find efficiency?
Again, these answers make up the first draft of a campaign strategy and must be validated for AI hallucinations. But, it effectively gets you started with a detailed framework, freeing time to focus on creativity, personalization and empathy.
With the white page eradicated and campaign building blocks spread before you, how can you elevate this strategy to build a deeper connection with your audience?
THIS — creativity and connection — is where marketers should spend their time to get the maximum value out of every initiative.
Compliance and Fraud Prevention
Compliance, data privacy and fraud prevention processes are vital to protect individuals and businesses from potential harm. There’s also the legal side — securing your business and customers prevents costly penalties and lawsuits, while safeguarding your business reputation.
Of course, threats and hiccups are commonplace and requirements and standards continually evolve in the increasingly stringent data regulatory landscape.
Generative AI can help detect fraudulent behaviors, like fake reviews, advertising fraud, unusually high transactions or identity theft.
By examining patterns and irregularities in data, AI algorithms can pinpoint suspicious activities, thereby safeguarding both enterprises and individuals from fraudulent conduct.
AI can help compliance officers focus their attention on areas poised for the greatest risk (reducing time wasted or overlooked issues) and inform better decision-making.
Related Article: Generative AI: Opportunities and Challenges for Marketing
Generative AI — Just Get Started
Time will tell whether generative AI transforms the world, accelerates business success and arms our employees with unmatched potential to do great things.
Or, whether the robots become our leaders. Coin flip.
Like anything else, there are risks and rewards. Personally, I always err on the side of just get started.
Don’t let the hype — or an over-eager CEO — send you into a panic spiral. Start slow and use generative AI to save a little time in your day. Then, grow your AI practice in ways that make the most sense for your teams and your business.
Take some risks. Experiment. Iterate. Learn about generative AI in business as you go, revealing the right flavors of AI to move you forward.
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